<u>Answer:</u>
<em>Elastic</em>
<u>Explanation:</u>
Price Elasticity of Demand (PED) is a method in economics which shows the demand quantity of a good or service, in response to a change in its price. PED is a percentage change in quantity demanded, when the price changes by one percent.
The demand is said to be inelastic for a good or service when the PED is less than 1. When it is greater than 1, then the demand is said to be elastic.
Answer:
I. easily convey the return for each dollar invested.
Explanation:
Percentage of returns is used to explain the return on an investment relative to the amount invested.
It can also be called a return on investment (ROI). Return on investements is always expressed as percentages or ration and is usually calculated with formula
ROI = <u> Current Value of Investment−Cost of Investment</u> × 100%
Cost of Investment
Cheers.
Answer: Decline in GDP = $1009.3 billion
Explanation:
Okun's law shows us the relationship between a nation's unemployment rate and its level of output or real GDP.
According to the Okun's law,

Therefore, a 7% decline in GDP as compared to the level in 2009 means,

= 1009.33 billion or 1009.3 billion
Thus, GDP declined by $1009.3 billion.
Answer:
Search for Products and Evaluating Possible Suppliers Stage.
Explanation:
Examining quality, design, materials, and item reduction to acquire a product in the most cost-effective way falls under search for products and evaluating possible suppliers stage of the business buying decision process. In this step, business buyer go for searching the products and evaluate different available options in order to make the purchase process easy and effective. Basically they analyse the product quality, its materials and design. These factors are then analyzed by categorizing, evaluating and analyzing different available options.